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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows provided by (used in) operating activities    
Net income $ 205,897 $ 220,694
Adjustments to reconcile net income to cash provided by (used in) operating activities:    
Share compensation expenses 7,147 2,318
Gain on deconsolidation of subsidiary (1,372) 0
Amortization of discount on senior notes 27 27
Income from investment affiliate (5,348) (1,477)
Net realized gains on investments (3,740) (1,721)
Change in net unrealized (gains) losses on investments (55,693) 7,237
Amortization of intangible assets 1,040 1,040
Income from operating affiliates (4,927) (3,523)
Foreign exchange (gains) losses included in net income (4,347) 18,906
Amortization of premium on fixed maturities 4,117 5,059
Change in:    
Premiums receivable (393,543) (400,153)
Deferred acquisition costs (68,098) (72,916)
Prepaid reinsurance premiums (115,112) (100,984)
Loss reserves recoverable 21,832 6,447
Paid losses recoverable 43,054 30,438
Income taxes recoverable 0 (2,132)
Accrued investment income 2,366 1,532
Other assets 13,558 8,020
Reserve for losses and loss expenses (105,842) (138,633)
Unearned premiums 449,238 487,467
Reinsurance balances payable 57,765 51,300
Deferred income taxes 3,551 1,250
Accounts payable and accrued expenses (95,997) (40,113)
Net cash (used in) provided by operating activities (44,427) 80,083
Cash flows provided by (used in) investing activities    
Proceeds on sales of investments 1,086,527 1,410,509
Proceeds on maturities of investments 124,716 125,841
Purchases of fixed maturities (884,461) (2,140,447)
(Purchases) sales of short-term investments, net (107,411) 744,518
Sales of other investments 3,539 31,121
Increase in securities lending collateral (1,485) (1,689)
Redemption of investment in operating affiliates 43,366 50,222
Purchase of investment in investment affiliate 0 (1,341)
Net cash provided by investing activities 264,791 218,734
Cash flows provided by (used in) financing activities    
Net (repayment of) proceeds on issuance of notes payable to operating affiliates (30,600) 175,637
Issuance of common shares, net 2,030 3,121
Purchases of common shares under share repurchase program (197,339) (69,691)
Dividends paid (29,330) (262,232)
Increase in securities lending payable 1,485 1,689
(Redemption of) investment in third party redeemable noncontrolling interest (10,496) 36,290
Net cash (used in) financing activities (264,250) (115,186)
Effect of foreign currency rate changes on cash and cash equivalents 4,890 (33,786)
Net (decrease) increase in cash (38,996) 149,845
Cash and cash equivalents - beginning of period 1,056,346 1,219,379
Cash and cash equivalents - end of period 1,017,350 1,369,224
Taxes paid during the period 175 693
Interest paid during the period $ 19,174 $ 17,819